Business Nigerian Govt to Increase VAT from 5% to 20%

[abujagirl]

The Nigerian government may soon be increasing Value Added Tax, VAT.



The government is considering changes to the tax regime as part of efforts to overcome the crisis brought on by falling oil prices. Vice President Yemi Osinbajo said that the government is looking at increasing tax coverage; CCTV reports.

The government plans to increase value-added tax from 5 percent to 20%.

 

[curator]

It is probably less painful to start shooting anyone with a small business. The government should focus on getting money from the big companies. If they are avoiding tax in first world countries what do you think they are doing in Nigeria? [USERGROUP=16]@Panel[/USERGROUP] [USERGROUP=15]@News Hub Team[/USERGROUP]

 

[mrsam]

It is probably less painful to start shooting anyone with a small business. The government should focus on getting money from the big companies. If they are avoiding tax in first world countries what do you think they are doing in Nigeria? [USERGROUP=16]@Panel[/USERGROUP] [USERGROUP=15]@News Hub Team[/USERGROUP]

They won't. Those big companies pay huge sums to government officials to operate as they like.

 

[curator]

They won't. Those big companies pay huge sums to government officials to operate as they like.

But we have change so let us stop taxing the poorest and make the biggest beneficiaries pay more.

 

[mrsam]

But we have change so let us stop taxing the poorest and make the biggest beneficiaries pay more.

It would be hard for me to enforce a company that has paid me millions secretly to pay tax. Let us just hope the the anti corruption agenda of the current administration is sincere, thorough and successful.

 

[Liadi abass opeyemi]

Hmmmmmm, wia r we going?